Privacy Coins Under Fire: ZCash Proven Traceable, Monero at Risk
A hacker using ZCash was immediately identified, triggering widespread mockery of privacy coins and renewed debate about whether any on-chain privacy solution is viable as government scrutiny intensifies.
What we know
An account on X called ZCash a 'mossad honeypot' after a hacker was traced despite using it. The sentiment was widely shared — DontTraceMeBruh's original tweet got 121 retweets. Another account on X also noted that even Monero can be traced 'at the edges' via forensic tools tracking entries and exits through public chains. He warned that the eventual rollout of bank-based crypto self-custody will trigger a government clampdown on all privacy coins — another account on X. Another account on X noted ZEC price rejected immediately after wicking into prior range, calling for lower prices.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.